As they often say, there are only two guarantees in this life; death and taxes. Everybody will die eventually. However there is no need of you leaving a large burden of your funeral expenses and arrangements to your family members, relatives and friends. Burial insurance or funeral expense insurance is the easiest and best way to ensure that you have a good plan in place that will pay for the funeral wishes. Burial insurance is similar to the life insurance; however burial insurance does not carry cash benefit. Basically burial insurance is a basic form of life insurance that pays for the funeral merchandise costs and funeral services. The policy will cover people until the age of 100 years. Burial insurance is therefore a cash policy that builds the cash value for a certain time. Examples of costs covered by burial insurance are:
The main features of burial insurance:
•The premiums of burial insurance do not change hence assuring a permanent coverage.
•The level premiums make sure that your coverage cost never increase until you decide to make changes to your policy.
•Level advantage helps you in capping your premiums in order to ensure that you never pay extra than your cover amount.
•The insurance line’s permanent protection promise means that for every five years of the coverage there will be always more benefits available that will assist in the expenses of the funeral even if one stops paying the premiums.
•No underwriting medical exams required in burial insurance.
Benefits of burial insurance:
Burial insurance do not involve the protection against the risk that is an assumed; rather the purchase of burial insurance in to pay in advance the services that will be rendered in future time. This is the best way somebody can wrap up his or her finances at the end of life. This will help you in making sure that your loved ones and all your dependents will be financially stable to an extent of being relieved from funeral costs.
Very affordable monthly payments.
Take a look at some life insurance quotes online and compare burial insurance to other traditional life insurance options. It is far less expensive.
•The coverage is for ages of o to 100 years.
•Monthly payments and premium rates will stay the same always.
•No decrease in the coverage, hence your benefits will not be reduced.
For the small expense that this final expense insurance costs, you can save your loved ones a huge expense in their time of grief.